{"id":257472,"date":"2026-07-02T14:53:11","date_gmt":"2026-07-02T12:53:11","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=257472"},"modified":"2026-07-02T14:53:11","modified_gmt":"2026-07-02T12:53:11","slug":"al-hadhiri-the-billion-that-protects-billions-or-management-that-protects-money","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/al-hadhiri-the-billion-that-protects-billions-or-management-that-protects-money\/","title":{"rendered":"Al-Hadhiri: “The billion that protects billions\u2026 or management that protects money?”"},"content":{"rendered":"\n

Written by oil legal expert Othman Al-Hadhiri<\/strong>, the article states:<\/p>\n\n\n\n

Recently, a slogan has been circulating claiming that \u201cthe billion that protects billions,\u201d referring to the idea that funding the National Oil Corporation is not consumption spending but an investment aimed at safeguarding and increasing state revenues. In principle, there is no disagreement that the oil sector is the backbone of the Libyan economy, and that investment in it is a national necessity rather than a luxury.<\/p>\n\n\n\n

However, the question that arises is: has the problem ever been a lack of funding, or has it been the way funding is managed?<\/p>\n\n\n\n

Over the past years, the sector has witnessed the allocation of billions of dinars and dollars under the headings of increasing production, developing fields, and improving infrastructure. Yet a significant portion of the stated objectives has not been achieved at a level that justifies the scale of spending, and no clear public audits have been presented explaining the reasons for shortfalls or measuring the real return on those funds.<\/p>\n\n\n\n

The issue does not stop there. It has extended to spending on projects whose feasibility has not been proven, training programs whose impact has not been reflected in institutional performance, and official missions and travel whose necessity and value have been questioned, in addition to spending practices that are not aligned with the priorities of a sector that should be managed with the highest levels of efficiency and discipline.<\/p>\n\n\n\n

In this context, how can any financing or lending entity be convinced that a new billion dollars will produce different results, if the tools of planning, oversight, and governance remain unchanged? A funder does not look only at the size of guarantees or the importance of the sector, but also at the quality of management, transparency of spending, and the ability to implement programs and achieve results.<\/p>\n\n\n\n

Money, no matter how large, does not create success if it is spent outside priorities or without oversight and accountability. Previous experiences, including the accumulation of billions in debts within some sector companies without corresponding value creation, provide a lesson that should not be ignored.<\/p>\n\n\n\n

Therefore, the issue is not opposition to funding the oil sector, nor rejection of providing it with necessary resources. Rather, it is a call for genuine reform in management systems before funding. What is required is not merely providing a billion dollars, but creating an institutional environment that ensures every dollar spent produces measurable returns, with clear performance indicators, periodic review of results, and accountability for negligence or waste of public funds.<\/p>\n\n\n\n

Trust is not built through slogans, but through track records. Funding is not an end in itself, but a means to achieve development, increase production, and maximize revenues. If management tools remain unchanged, injecting more money may only reproduce the same problems\u2014just at larger scale.<\/p>\n\n\n\n

And the principle proven by experience remains valid in administration as it is in life: \u201cOne is not bitten from the same hole twice.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Written by oil legal expert Othman Al-Hadhiri, the article states: Recently, a slogan has been circulating claiming that \u201cthe billion that protects billions,\u201d referring to the idea that funding the National Oil Corporation is not consumption spending but an investment aimed at safeguarding and increasing state revenues. In principle, there is no disagreement that the […]<\/p>\n","protected":false},"author":13,"featured_media":257473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[683],"tags":[613],"class_list":["post-257472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-articles","tag-libya"],"acf":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/comments?post=257472"}],"version-history":[{"count":1,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257472\/revisions"}],"predecessor-version":[{"id":257474,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257472\/revisions\/257474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/257473"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=257472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=257472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=257472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}